Watson Farley & Williams (“WFW”) advised green flexibility development gmbh (“green flexibility”) on the acquisition of a portfolio of utility-scale battery energy storage projects developed by Kajoni Energie GmbH (“Kajoni”). The portfolio has a total capacity of approximately 750 MWand 3 GWh of storage capacity and is participating in the current maturity assessment procedure for extra-high-voltage grid connections in Germany.
As part of the transaction, green flexibility secures the projects’ participation in the maturity assessment process for grid connections. Following potential approval by the transmission system operator, Kajoni will further develop the projects until they are ready for construction, before green flexibility takes over their implementation, operation and marketing.
The projects are expected to make a significant contribution to the integration of renewable energy and more efficient use of existing grid capacity, whilst providing increased flexibility within the German electrical system.
green flexibility is a German developer, investor and operator of utility-scale battery energy storage systems covering the entire value chain from project development through to operation.
Osnabrück, Germany-based Kajoni is a renewable energy project developer that delivers photovoltaic, wind and battery storage projects through to ready-to-build status.
The WFW Germany Energy team that advised green flexibility was led by Hamburg Corporate Partner Dr. Wolfram Böge, working with Hamburg Corporate Partner Christian R. Schindler, Hamburg Real Estate Partner Dr. Sebastian Baum, Associate Richard Wichmann and Transaction Lawyer Stephanie Groß. Hamburg Partner Dr. F. Maximilian Boemke, supported by Senior Associate Dr. Philipp Kleiner, Associates Dr. Ruwen Fritsche and Leonard Wolckenhaar, advised on regulatory matters. Frankfurt Counsel Manuel Rustler and Associate Dr. Alexander Brune advised on tax matters.
Wolfram commented: “We are delighted to have advised green flexibility on this strategically important transaction. The projects highlight the growing importance of utility-scale battery storage systems for the energy transition and the further expansion of grid infrastructure in Germany”.
